Anschutz, Nederlander Settle Contract Dispute
Anschutz Entertainment Group said it settled a contract dispute with Nederlander Concerts and reached a new deal to share booking and promotion of events at Staples Center.
Sources said the two firms reached a financial settlement to resolve a dispute about payments Nederlander guaranteed to Anschutz as part of its exclusive booking contract. The two firms also agreed to a multiyear deal in which Nederlander and Anschutz subsidiary Concerts West will share booking and promotion of events at the Los Angeles arena.
The deal comes as the two sides were pursuing an arbitration in the case.